Saudi Arabia’s sovereign wealth fund has invested more than $3 billion in shares of video-game companies, according to 13F filings made with the United States Securities and Exchange Commission.
What Happened: The Public Investment Fund, during the fourth quarter, purchased 14.9 million shares of Activision Blizzard, Inc (NASDAQ:ATVI).
The fund also stocked up on 7.4 million Electronic Arts Inc (NASDAQ:EA) shares and 3.9 million shares of Take-Two Interactive Software, Inc (NASDAQ:TTWO).
At the end of the year, the Activision shares were worth nearly $1.4 billion. The Electronic Arts and Take-Two shares were worth $1.1 billion and $826 million respectively.